Big Changes at the Three Major Credit Bureaus

March 19, 2015, Written By John H. Oldshue
Credit Report

Equifax, Experian and TransUnion track consumer credit information on almost every person in the United States. This information is put into a database and also calculated into a credit score that is used to determine what interest rate you will pay on loans as well as the premiums for homeowner’s and auto insurance.

The three credit bureaus have instituted a number of significant changes as a result of a March 9 agreement with New York Attorney General Eric Schneiderman. These changes will be implemented over the next several months:

  • AnnualCreditReport.com is the official website of the big three credit bureaus that allows a consumer to access your credit report for free once a year. This website will be given better results in search engines so people can find it easier and not be led to sites requiring a payment.
  • A consumer will be given a second free annual credit report from all three bureaus if you have filed a dispute so you can make sure the correction has been made on your report.
  • Specially-trained employees will review your dispute instead of having it classified and filed by a computer system.
  • Medical debt will only be placed on a credit report after a 180-day waiting period to allow the insurance companies time to pay the debt.
  • The credit bureaus are now required to set up a National Credit Reporting Working Group which will continuously monitor the dispute resolution process.


The information contained within this article was accurate as of March 19, 2015. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.